National Grid Stock Stalls Before Results as Rate Pressure Tests the £70 Billion Grid Story
National Grid plc hovered just below the flatline by midday, quoted at 1,275p/1,276p after kicking off at 1,280.5p. It reads as a quiet session, though the actual day’s spread—1,267.5p to 1,298.5p—suggests there’s still some price testing ahead of the full-year numbers. Around 2.5 million shares had changed hands, trailing the three-month average on Investing.com, while the group’s market cap was holding near £63.6 billion. Here’s the problem: National Grid’s now heavily focused on capital spending, right as borrowing costs are climbing. The FTSE 100 managed some gains this day, but UK 10-year gilts were stuck near 5.08%. Brent crude pushed past $107 a barrel—no relief for inflation or funding costs. That’s a headache for utilities. Rising bond yields squeeze in
